Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-312022-06-013falseNo description of principal activity3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13396556 2022-06-01 2023-05-31 13396556 2021-05-14 2022-05-31 13396556 2023-05-31 13396556 2022-05-31 13396556 c:Director2 2022-06-01 2023-05-31 13396556 d:CurrentFinancialInstruments 2023-05-31 13396556 d:CurrentFinancialInstruments 2022-05-31 13396556 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 13396556 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 13396556 d:ShareCapital 2023-05-31 13396556 d:ShareCapital 2022-05-31 13396556 d:RetainedEarningsAccumulatedLosses 2023-05-31 13396556 d:RetainedEarningsAccumulatedLosses 2022-05-31 13396556 c:FRS102 2022-06-01 2023-05-31 13396556 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 13396556 c:FullAccounts 2022-06-01 2023-05-31 13396556 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 13396556 2 2022-06-01 2023-05-31 13396556 6 2022-06-01 2023-05-31 13396556 e:PoundSterling 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 13396556









UPSTATE INVESTMENTS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
UPSTATE INVESTMENTS LTD
REGISTERED NUMBER: 13396556

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1,906,750
989,459

  
1,906,750
989,459

Current assets
  

Debtors: amounts falling due within one year
 5 
2,209,049
2,209,117

Cash at bank and in hand
 6 
840,059
1,692,646

  
3,049,108
3,901,763

Creditors: amounts falling due within one year
 7 
(876,428)
(864,171)

Net current assets
  
 
 
2,172,680
 
 
3,037,592

Total assets less current liabilities
  
4,079,430
4,027,051

  

Net assets
  
4,079,430
4,027,051


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
4,079,427
4,027,048

  
4,079,430
4,027,051


Page 1

 
UPSTATE INVESTMENTS LTD
REGISTERED NUMBER: 13396556
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Gold
Director

Date: 20 March 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
UPSTATE INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Upstate Investments Limited is a private company, limited by shares and incorporated in England and Wales (registered number: 13396556).
The registered address of the company is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Pounds Sterling, which is the functional currency of the Company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.4

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
UPSTATE INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Fixed asset investments





Investments in associates
Listed investments
Total

£
£
£



Cost or valuation


At 1 June 2022
989,459
-
989,459


Additions
-
1,415,763
1,415,763


Disposals
-
(492,731)
(492,731)


Revaluations
-
(5,741)
(5,741)



At 31 May 2023
989,459
917,291
1,906,750




Page 4

 
UPSTATE INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Debtors

2023
2022
£
£


Other debtors
2,204,410
2,204,410

Prepayments and accrued income
4,639
4,707

2,209,049
2,209,117



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
840,059
1,692,646

840,059
1,692,646



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
368
-

Corporation tax
19,644
9,757

Other creditors
853,416
853,414

Accruals and deferred income
3,000
1,000

876,428
864,171


 
Page 5